VOP Summer 2014

UNIVERSITY OF CHICAGO MEDICINE SELECTS DOWNTOWN ORLAND PARK FOR NEW MEDICAL FACILITY

In May the Village of Orland Park Board of Trustees approved a Letter of Intent with the University of Chicago Medicine for the development of a 120,000 square foot medical facility to be located at the northwest corner of LaGrange Road and 143rd Street in Downtown Orland Park. The letter of intent calls for a lease-to-purchase agreement for approximately 3.48 acres of village-owned land. The development will include a first floor retail pharmacy and a 530-space parking structure. The proposed mixed-use building is expected to employ more than 100 people and create more than 200 construction jobs.

The project also calls for the medical center to allow public use of its 530-space parking garage during evenings and weekends at no cost to the village. The project is estimated to bring $61 million in private investment and 22,400 annual visitors/patients to Orland Park’s downtown. The direct financial benefit to the village, through the terms of the letter of intent, is estimated to be $25.5 million. Visit www.orlandpark.org for updates and information on this project as well as other new projects coming to Orland Park!

www.orlandpark.org | ORLAND PARK PUBLIC SUMMER 2014 3